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China is a large agricultural country. Agriculture is the foundation of national economy. In 2010,agricultural and rural issues were sent down as a first document by the government. The government called on the whole community should give priority to agricultural development, to accelerate the development of agricultural operations, and promote the revitalization of agricultural industry, making farmers more prosperous life. As the leading agricultural enterprises, agricultural listed companies’own development plays an important role in promoting the nationaleconomy. However, the development of listed companies in agriculture in the last ten years, gradually revealed a small scale, bad operating performance and other issues which can not be optimistic.In this paper, we choose the performance of listed agricultural companies as the research object. Recalling the past studies on corporate governance and corporate performance, found that most research on firm performance is to study the size of the board, independent directors, directors remuneration, directors ownership, equity structure and their impact on corporate performance. When researching on operating performance of agricultural listed companies, we often evaluate the performance of agricultural companies. And I also found that agricultural research focused on listed companies usually use different methods to evaluate the agriculture listed companies, while seldom from the perspective of corporate governance.In this paper, based on previous studies, we fist compared the financial data of listed agricultural companies with A stock market, and found that listed agricultural companies were small-scale, poor profitability. Then we select 13 financial indicators which reflect the performance of agriculture companies. The sample period was 2007-2009. We use factor analysis evaluated the performance of listed agricultural companies, calculated score and then ranked score. And found that Ruyi won the highest score, Ronghua won the lowest score. Then, from the perspective of corporate governance, we analyses the factors which may affect the performance of listed agricultural companies. In this paper, we use the operating performance of listed agriculture companies as the dependent variable, use firm size, tax subsidies, income support, the largest proportion of shareholding, the proportion of top ten shareholders, executive compensation and managerial ownership as the independent variable. We use multiple regression analyses these factors on company performance. Finally found that tax subsidies, income subsidies, the proportion of top ten shareholders, executive compensation, managerial ownership were significantly positive with corporate performance, while the ratio of the largest shareholder and corporate performance are not related.After empirical analysis, this paper suggests the rational use of subsidies, optimizing equity structure, rational use of incentives and other policy recommendations. Finally, we imagined the future research of agricultural listed companies.
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